Zaxby's Makes Impressive Climb in Entrepreneur Magazine’s Franchise 500 Ranking
Tuesday, January 23rd, 2024
Zaxby's, the rapidly growing Georgia-based quick-service restaurant franchise renowned for its chicken fingers, wings, and signature sauces, has been recognized as one of the top 500 franchises in Entrepreneur's Franchise 500® for the 11th consecutive year. In the 2024 ranking, Zaxby's proudly stands at the 133rd position, a significant leap from its #298 ranking last year, showcasing its remarkable growth and resilience in the competitive food industry.
Zaxby's has been focusing on expansion through a new franchisee incentive program. The Zaxby's incentive program capitalizes on the brand's aggressive development plan, offering Select Market Incentives (SMI) like discounts on the standard royalty of 6%. This initiative allows franchisees to amplify marketing efforts and drive sales performance in new markets. Notably, the plan includes no royalties in the first year, a reduced 3% royalty in the second year, and the standard 6% royalty from the third year onwards. Additionally, Zaxby's is refunding the full initial license fee of $35,000 upon store opening as per schedule.
Celebrating its 45th year, the annual Entrepreneur Franchise 500 is a prestigious honor in the franchise industry, serving as a crucial resource for potential franchisees.
"Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people," says Jason Feifer, editor-in-chief of Entrepreneur magazine. "Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond."
Entrepreneur's ranking formula, continuously evolving to reflect the dynamics of the franchise marketplace, considers various factors that include costs and fees, size and growth, support, brand strength, and financial strength and stability. Based on an analysis of over 150 data points, franchises are given a cumulative score, with the top 500 making it to the Franchise 500 in ranked order.
Zaxby's position in this year's ranking underlines its robustness as a franchise opportunity and its appeal to entrepreneurs looking to invest in the quick-service restaurant sector.
To view Zaxby's in the full ranking, visit http://www.entrepreneur.com/franchise500 or pick up the January/February 2024 issue of Entrepreneur, available on newsstands now.
To learn more about Zaxby's franchise opportunity, visit us at www.zaxbys.com/franchise
"This recognition is a testament to our brand's strength, innovative growth strategies, and the hard work of our entire team. Moving up to #133 in Entrepreneur's Franchise 500 is not just an honor; it reflects our commitment to providing an exceptional franchise opportunity and dining experience," said Bernard Acoca, CEO of Zaxby's.
